Eileen McEleney Woods December 22, 2020 3:19 pm
The median selling prices for single-family homes and condos hit record highs for the month of November and show no signs of abating, even as the real estate market slips into its usual winter lull, a report released Tuesday suggested.
The $700,000 median sales price of a single-family home was nearly 17 percent higher last month than it was in November 2019, and the median condo cost, $579,000, was a 2.5 percent year-over-year jump, according to the Greater Boston Association of Realtors.
“There’s a lot of upward pressure on prices right now, especially in the suburban starter and trade-up home markets where listings are at a premium many homes are selling at or above asking price because buyers are competing with multiple offers and paying top dollar to get the property,” said Jason Gell, association president and an agent with RE/Max Unlimited in Brookline. “When you factor in an increased propensity for larger